DavyJ

Gold Production and Reserves: Stage Two

Re: "Gold would have to reach $2400 in order to achieve a real all time high."

So if the CPI is at an all time high and gold is such a good price inflation hedge, why is it not keeping up with the CPI?

Gold Production and Reserves: Stage Two

Re: "Paper money not backed by gold has and will always fail, as proven throughout history."

For all practical purposes, the fiat U.S. Dollar has already failed. Down 95% in the last 50 to 100 years depending on whose figures you use. Even more recent if you use ShadowStat's numbers.

Yet because it was gradual, we not only lived through it, but prospered through it.

I assume this century will be much like the last, and the U.S. will not be like the Weimar Republic or Zimbabwe.

'Gold as Money' Means a Potentially Massive Rise in Valuation

The same treasury website where you quote the amount of gold held states the currency in circulation is $1,028,731,853,530.

This is a far cry from the $14 trillion quoted by your un-named private firm.

fms.treas.gov/bulletin...

Sorry, I couldn't find an html link.



Nevertheless, this does equate to $3934 per ounce.